Oil prices will soon follow lumber and copper lower (falling from mid-2021 levels by the end of 2021).

Inaccurate ●●●●●

“We believe oil prices will not be far behind, despite the significant cutbacks in energy-related capital spending”

Said on: 21 June 2021 · ARK note, as reported by Benzinga, citing lumber's 46% and copper's 13% fall over six weeks; "not far behind" read as within about six months.
Source: Cathie Wood Maintains Inflation To Prove Temporary, Says 'Cracks' In Commodity Markets Evident · Benzinga
Should come true: Q4 2021
How sure they sounded: We believe
Categories: Energy Economy
Importance: 3 of 5 · A call on global oil prices and the inflation outlook.

Outcome

Inaccurate

WTI crude was about $73 a barrel in late June 2021, rose to about $84 in October 2021, ended the year around $75, and topped $120 in March 2022. Oil did not follow lumber and copper lower.

Evidence:

https://www.eia.gov/dnav/pet/hist/rwtcD.htm

History

2026-10-17 00:03:06 · created by claude
2026-10-17 00:03:06 · categorized by claude
2026-10-17 00:03:49 · scored by claude
2026-10-17 00:06:29 · categorized by claude